According to data shared by Finance Minister, Nirmala Sitharaman on November 1, the GST collection for the month of October stood at Rs. 1.52 lakh crores. This is the second highest collection since implementation of GST.

Goods and Services Tax (GST) collection had touched a record high of nearly Rs. 1.68 lakh crores in April. On the other hand, in September, it was Rs. 1.48 lakh crores.

PTI quoted an official stating, "The gross GST collected in the month of October 2022 is Rs 1,51,718 crores, of which central GST is Rs. 26,039 crores, state GST is Rs. 33,396 crores, integrated GST is Rs. 81,778 crores (including Rs. 37,297 crores collected on import of goods) and cess is Rs. 10,505 crores. This is second highest till date.”

It is to be noted that the total revenue of the Centre and the states after regular as well as adhoc settlements in the month of October 2022 is Rs. 74,665 crore for CGST and Rs 77,279 crore for the SGST.

During the month of September 2022, 8.3 crore e-way bills were generated, which was significantly higher than 7.7 crore e-way bills generated in August 2022.

Chief economist of ICRA Limited, Aditi Nayar said the sharp sequential pickup in the headline GST collections in October 2022 reflects a combination of quarter-end flows relating to the transactions in the previous month, as well as the surge in GST e-way bills ahead of a robust festive season.

Nayar said, "With the festive season in October 2022, the generation of GST e-way bills is expected to have remained high, which should bolster the GST collections in the month of November 2022.”

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